Analysts Anticipate Magnachip Semiconductor Co. (NYSE:MX) Will Post Earnings of $0.24 Per Share

Equities analysts forecast that Magnachip Semiconductor Co. (NYSE:MX) will post earnings per share of $0.24 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Magnachip Semiconductor’s earnings. The highest EPS estimate is $0.31 and the lowest is $0.16. Magnachip Semiconductor posted earnings of $0.40 per share in the same quarter last year, which would suggest a negative year over year growth rate of 40%. The business is expected to issue its next earnings results on Wednesday, February 16th.

According to Zacks, analysts expect that Magnachip Semiconductor will report full-year earnings of $0.95 per share for the current financial year. For the next fiscal year, analysts forecast that the firm will post earnings of $1.10 per share, with EPS estimates ranging from $0.95 to $1.25. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Magnachip Semiconductor.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings results on Sunday, October 24th. The semiconductor company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.20 by $0.22. The business had revenue of $127.00 million for the quarter, compared to analysts’ expectations of $131.55 million. Magnachip Semiconductor had a net margin of 13.75% and a return on equity of 11.38%.

MX has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $29.00 price target on shares of Magnachip Semiconductor in a research note on Wednesday, December 22nd. Zacks Investment Research downgraded shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.00.

NYSE MX traded up $0.59 on Friday, reaching $20.27. The company’s stock had a trading volume of 27,488 shares, compared to its average volume of 1,087,644. The firm has a market cap of $941.95 million, a PE ratio of 13.21, a price-to-earnings-growth ratio of 0.78 and a beta of 1.00. The business has a 50-day moving average price of $18.82 and a 200 day moving average price of $19.32. Magnachip Semiconductor has a 52 week low of $16.77 and a 52 week high of $26.98.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Toronado Partners LLC grew its position in Magnachip Semiconductor by 23.0% during the third quarter. Toronado Partners LLC now owns 2,046,979 shares of the semiconductor company’s stock valued at $36,354,000 after buying an additional 383,205 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Magnachip Semiconductor by 15.9% in the third quarter. Alliancebernstein L.P. now owns 1,853,418 shares of the semiconductor company’s stock worth $32,917,000 after buying an additional 254,503 shares in the last quarter. Systematic Financial Management LP lifted its holdings in shares of Magnachip Semiconductor by 15.0% in the second quarter. Systematic Financial Management LP now owns 1,835,001 shares of the semiconductor company’s stock worth $43,783,000 after buying an additional 239,799 shares in the last quarter. Brigade Capital Management LP raised its stake in Magnachip Semiconductor by 16.4% in the third quarter. Brigade Capital Management LP now owns 1,198,548 shares of the semiconductor company’s stock valued at $21,286,000 after purchasing an additional 168,595 shares in the last quarter. Finally, Water Island Capital LLC raised its stake in Magnachip Semiconductor by 118.5% in the third quarter. Water Island Capital LLC now owns 1,187,839 shares of the semiconductor company’s stock valued at $21,096,000 after purchasing an additional 644,161 shares in the last quarter. Hedge funds and other institutional investors own 74.15% of the company’s stock.

Magnachip Semiconductor Company Profile

MagnaChip Semiconductor Corp. engages in the design and manufacture of analog and mixed-signal platform solutions for communications, Internet of Things (IoT) applications, consumer, industrial and automotive applications. It provides a range of standard products to customers worldwide. The company was founded on November 26, 2003 and is headquartered in Luxembourg.

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